Company name Magellan Mort No. 2
Headline Results of Offers


RNS Number : 5364G
Magellan Mortgages No. 2 plc
29 June 2012
 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR TO ANY U.S. PERSON OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

 

THIS DOCUMENT IS NOT ADDRESSED TO ANY PERSON RESIDENT OR ACTING THROUGH AN ESTABLISHMENT IN PORTUGAL UNDER ANY CIRCUMSTANCES WHICH ARE DEEMED TO BE A PUBLIC OFFER UNDER THE PORTUGUESE SECURITIES CODE (DECREE-LAW NO. 486/99 OF 13 NOVEMBER 1999).

29 June 2012

BANCO COMERCIAL PORTUGUÊS, S.A. ANNOUNCES RESULTS OF OFFERS

Further to its announcement dated 20 June 2012, Banco Comercial Português, S.A.(the "Purchaser") hereby announces the results of its invitation (subject to certain offer restrictions) to Holders of the Series of Notes specified below to submit Offers to sell their Notes to the Purchaser for cash in accordance with an unmodified Dutch auction procedure, save for the Fixed Price Notes where the invitation for offers were at a fixed price of 86 per cent. of the nominal amount (the "Invitation").

The Invitation was made on the terms of, and subject to the conditions contained in, the invitation for offers dated 20 June 2012 (the "Invitation for Offers") and expired at 5:00 p.m. CET on 28 June 2012 (the "Expiration Time").

The Purchaser proposed to accept for purchase Notes up to a maximum (amortised) principal amount of €300,000,000 across all Series of Notes combined (the "Maximum Invitation Amount"), on the terms and subject to the conditions contained in the Invitation for Offers. 

The Purchaser has decided to accept for purchase EUR 486,981,370.60 in Outstanding Principle Amount of the validly tendered Notes. This requires an increase in the Maximum Invitation Amount in accordance with the Conditions contained in the Invitation for Offers which is raised to EUR 486,981,370.60.

 

There will be no pro-ration of any Series of Notes. The following table sets out the Series Acceptance Amounts for each Series of Notes:

Capitalised terms used in this announcement and not otherwise defined herein shall have the meanings ascribed to them in the Invitation for Offers.

 

DETAILS OF THE DUTCH AUCTION NOTES

Issuer

Description of Notes

Original Principal Amount

Outstanding Principal Amount[1]

Series Acceptance Amount

Magellan Mortgages No.2 plc

Class A Mortgage Backed Floating Rate Notes due 2036

€930,000,000.00

€186,980,220.00i

€621,256.86

Magellan Mortgages No.2 plc

Class B Mortgage Backed Floating Rate Notes due 2036

€40,000,000.00

€40,000,000.00ii

€360,000.00

Magellan Mortgages No.2 plc

Class C Mortgage Backed Floating Rate Notes due 2036

€25,000,000.00

€25,000,000.00iii

€6,100,000.00

Magellan Mortgages No.2 plc

Class D Mortgage Backed Floating Rate Notes due 2036

€5,000,000.00

€5,000,000.00iv

-

Magellan Mortgages No.3 plc

Class A Mortgage Backed Floating Rate Notes due 2058

€1,413,750,000.00

€549,113,223.80v

€99,456,008.54

Magellan Mortgages No.3 plc

Class B Mortgage Backed Floating Rate Notes due 2058

€33,750,000.00

€16,492,983.80vi

€7,012,572.35

Magellan Mortgages No.3 plc

Class C Mortgage Backed Floating Rate Notes due 2058

€15,750,000.00

€7,696,725.80vii

€3,420,767.00

Magellan Mortgages No.3 plc

Class D Mortgage Backed Floating Rate Notes due 2058

€36,750,000.00

€17,959,026.80viii

€13,609,765.85

 

i At the date hereof, the Purchaser (including any of its subsidiaries) holds €18,836,749.26 in principal amount of this Series of Notes.

ii At the date hereof, the Purchaser (including any of its subsidiaries) holds €0.00 in principal amount of this Series of Notes.

iii At the date hereof, the Purchaser (including any of its subsidiaries) holds €0.00 in principal amount of this Series of Notes.

iv At the date hereof, the Purchaser (including any of its subsidiaries) holds €1,500,000.00 in principal amount of this Series of Notes.

v At the date hereof, the Purchaser (including any of its subsidiaries) holds €25,790,357.60 in principal amount of this Series of Notes.

vi At the date hereof, the Purchaser (including any of its subsidiaries) holds €7,403,517.15 in principal amount of this Series of Notes.

vii At the date hereof, the Purchaser (including any of its subsidiaries) holds €1,050,664.15 in principal amount of this Series of Notes.

viii At the date hereof, the Purchaser (including any of its subsidiaries) holds €4,349,260.90 in principal amount of this Series of Notes.

 

DETAILS OF THE FIXED PRICE NOTES

 

Issuer

Description of Notes

Outstanding Principal Amount

Series Acceptance Amount

Banco Comercial Português, S.A.

Floating Rates Notes due 2014

€1,250,000,000.00ix

€356,401,000.00

ix At the date hereof, the Purchaser (including any of its subsidiaries) holds €190,465,000.00 in principal amount of this Series of Notes.

 

The Purchaser will pay the Offer Price in respect of each Offer which is accepted, each at a price equal to or less than the Actual Maximum Purchase Price, plus Accrued Interest.

The Settlement Date is expected to be 3 July 2012 on which the Purchaser will pay for Notes purchased in immediately available funds in cash.

 

The Dealer Managers

Banco Comercial Português, S.A., through its Millennium investment banking division

Avenida José Malhoa 27, Piso 1

1099-010 Lisboa

Portugal

 

Tel:  +351 217 213 131/+351 217 213 123

Attn: Syndicate Desk

Email: estruturados@millenniumbcp.pt

 

Deutsche Bank AG, London Branch

Winchester House

1 Great Winchester Street

London EC2N 2DB

United Kingdom

 

Tel: +44 (0)20 7545 8011

Attn: Liability Management Group

Email: liability.management@db.com

 

UBS Limited

1 Finsbury Avenue

London EC2M 2PP

United Kingdom

 

Tel:+44 207 567 0525

Attn: Liability Management Group

E-mail: ol-liability-management@ubs.com

 

Any questions or requests for assistance in connection with the delivery of Electronic Offer Instructions or requests for copies of the Invitation for Offers or related documents, which may be obtained free of charge (subject to the restrictions set out in Jurisdictional Restrictions of the Invitation for Offers and this announcement), may be directed to:

 

The Tender Agent

 

Lucid Issuer Services Limited

Leroy House

436 Essex Road

London N1 3QP

United Kingdom

 

Tel: +44 (0)20 7704 0880

Attention: Thomas Choquet/Yves Theis

Email: bcp@lucid-is.com

 

The Dealer Managers do not take responsibility for the contents of this announcement and none of the Purchaser, the Issuers, the Tender Agent, or any of their respective directors, employees or affiliates makes any representation or recommendation whatsoever regarding the Invitation, or any recommendation as to whether Holders should participate in the Invitation.

No invitation to offer to sell any Notes is being made pursuant to this announcement. Any such invitation is only being made in the Invitation for Offers and any such acquisition or acceptance of the invitation should be made solely on the basis of information contained therein. This announcement must be read in conjunction with the Invitation for Offers; both contain important information which should be read carefully before any decision is made with respect to the Invitation.

If any Holder is in any doubt as to the action it should take or is unsure of the impact of the Invitation it is recommended to seek its own financial and legal advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser.

 

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 

 



[1] The outstanding principal amount represents (where applicable) the aggregate amortised principal amount, being the product of the aggregate original principal amount and the applicable Pool Factor (if any).


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ISEBXGDLIDDBGDC